MINUTES OF THE REGULAR MEETING OF THE FINANCE … · Motion to Resume Meeting in Open Session 5 4. CONSENT AGENDA: 6 a. Approval of the Minutes of the Regular Meeting 7 held on January

MINUTES OF THE REGULAR MEETING OF THE

FINANCE COMMITTEE December 12, 2017

Table of Contents

Subject Page No. Exhibit

Introduction 2

1. Adoption of the December 12, 2017 Proposed 3 Meeting Agenda

2. Motion to Conduct An Executive Session 4

3. Motion to Resume Meeting in Open Session 5

4. CONSENT AGENDA: 6

a. Approval of the Minutes of the Regular Meeting 7 held on January 31, 2017

b. Amendments to the Authority’s Finance Committee 8 4b-A; 4b-A-1 Charter

5. DISCUSSION AGENDA: 9

a. 2018 Power Authority Budget and Filing of the 9 5a-A - 5a-D 2018-2021 Approved Budget and Four-Year Financial Plan Pursuant to Regulations of the Office of the State Comptroller

b. Release of Funds for Canal Corporation 12

6. Next Meeting 14

Closing 15

December 12, 2017

Minutes of the regular meeting of the New York Power Authority’s Finance Committee held at the

Authority’s offices at 123 Main Street, White Plains, New York at approximately 10:03 a.m.

Members of the Finance Committee present were:

Eugene L. Nicandri - Acting Chair John R. Koelmel Dr. Anne M. Kress Tracy B. McKibben - Excused Anthony Picente, Jr. - Excused

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Also in attendance were: Dennis G. Trainor Trustee Gil Quiniones President and Chief Executive Officer Justin Driscoll Executive Vice President and General Counsel Robert Lurie Executive Vice President and Chief Financial Officer Karen Delince Vice President and Corporate Secretary Anne Reasoner Vice President - Budgets and Business Controls

Thomas Concadoro Vice President and Controller Scott Tetenman Vice President – Finance Christine Lally Director - Financial Planning Lorna Johnson Senior Associate Corporate Secretary Sheila Baughman Senior Assistant Corporate Secretary

Acting Chair Eugene Nicandri presided over the meeting. Corporate Secretary Delince kept the Minutes.

December 12, 2017

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Introduction Acting Chair Eugene Nicandri welcomed committee members and the Authority’s senior staff to the meeting. He said the meeting had been duly noticed as required by the Open Meetings

Law and called the meeting to order pursuant to Section B(4) of the Finance Committee Charter.

December 12, 2017

3

1. Adoption of the December 12, 2017 Proposed Meeting Agenda Upon motion made by member John Koelmel and seconded by member Anne Kress, the agenda

for the meeting was adopted.

December 12, 2017

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2. Motion to Conduct an Executive Session

I move that the Authority and Canal Corporation Finance Committee conduct an executive session to discuss the financial and credit history of a particular corporation.

Upon motion made by member John Koelmel and seconded by member Anne Kress, an

Executive Session was held.

December 12, 2017

5

3. Motion to Resume Meeting in Open Session

I move to resume the meeting in Open Session. Upon motion made by member John Koelmel and seconded by member Anne Kress, the meeting resumed in Open Session.

Acting Chair Nicandri said no votes were taken during the Executive Session.

December 12, 2017

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4. CONSENT AGENDA: Upon motion made by member John Koelmel and seconded by member Anne Kress, the agenda

for the meeting was adopted.

December 12, 2017

7

a. Approval of the Minutes The Minutes of the Committee’s Regular Meeting held on January 31, 2017 were unanimously

approved.

December 12, 2017

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b. Amendments to Authority’s Finance Committee Charter The President and Chief Executive Officer submitted the following report: “SUMMARY

The Finance Committee is requested to adopt the Authority’s Finance Committee Charter as amended and set forth in Exhibits ‘4b-A’ and ‘4b-A-1’ of this item and to recommend its adoption to the Trustees. BACKGROUND & DISCUSSION

The Authority’s Finance Committee Charter was last amended on October 26, 2010. The

changes to the Authority’s Finance Committee Charter are proposed to conform to the Canal Corporation’s Finance Committee Charter, which was adopted on January 31, 2017. FISCAL INFORMATION

None. RECOMMENDATION The Executive Vice President and General Counsel recommend that the Finance Committee approve the proposed amendments and recommend its adoption to the Trustees. For the reasons stated, I recommend the approval of the above-requested action by adoption of the resolution below.” The following resolution was unanimously approved by the Committee members.

RESOLVED, That the attached Authority Finance Committee Charter be adopted in the form proposed in Exhibit “4b-A;” and be it further

RESOLVED, That the Finance Committee recommend the adoption of the Authority’s Finance Committee Charter to the Trustees.

December 12, 2017

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5. DISCUSSION AGENDA:

a. 2018 Power Authority Budget and Filing of the 2018-2021 Approved Budget and Four-Year Financial Plan Pursuant to Regulations of the Office of the State Comptroller The President and Chief Executive Officer submitted the following report:

SUMMARY

The Trustees will be requested at their December 12, 2017 meeting to approve the 2018 Budget for the Power Authority, specifically including the expenditures for the (i) 2018 Operations and Maintenance (‘O&M’) Budget (attached as Exhibit ‘5a-A’), (ii) 2018 Capital Budget (attached as Exhibit ‘5a-B’), (iii) 2018 Energy Services Budget (attached as Exhibit ‘5a-C’) and (iv) 2018 Canal Development Fund Budget (collectively, with Exhibits ‘5a-A’, ‘5a-B’, and ‘5a-C’, the ‘2018 Power Authority Budgets’).

The 2018 Power Authority Budgets set forth the expected expenses of the Authority and include the recommended expenditures in the following amounts:

2018 Power Authority Budgets ($ million) O&M $ 556.5 Capital $ 298.8 Energy Services $ 194.8

Canal Development Fund $ 3.2

The Finance Committee is requested to recommend to the Trustees the approval of the 2018 Power Authority Budgets.

In accordance with regulations of the Office of the State Comptroller (‘OSC’), the Trustees will be requested at their December 12, 2017 meeting to approve the 2018-2021 Four-Year Budget and Financial Plan attached as Exhibit ‘5a-D’ (in the form approved, the ‘Approved 2018-2021 Four-Year Budget and Financial Plan’) and authorize: (i) submitting the Approved 2018-2021 Four-Year Budget and Financial Plan to OSC, (ii) posting the Approved 2018-2021 Four-Year Budget and Financial Plan on the Authority’s website, and (iii) making the Approved 2018-2021 Four-Year Budget and Financial Plan available for public inspection at not less than five convenient public places throughout New York State.

The Finance Committee is requested to recommend to the Trustees the approval of the 2018-2021 Four Year Budget and Financial Plan and authorization of the: (i) submittal of the Approved 2018-2021 Four-Year Budget and Financial Plan to OSC, (ii) posting of the Approved 2018-2021 Four-Year Budget and Financial Plan on the Authority’s website, and (iii) making of the Approved 2018-2021 Four-Year Budget and Financial Plan available for public inspection at not less than five convenient public places throughout New York State.

BACKGROUND

The Authority is committed to providing clean, low-cost and reliable energy consistent with its commitment to the environment and safety, while promoting economic development and job development, energy efficiency, renewables and innovation, for the benefit of our customers and all New Yorkers. The mission statement of the Authority is to power the economic growth and competitiveness of New York State by providing customers with low-cost, clean, reliable power and the innovative energy infrastructure and services they value.

The New York State Canal Corporation (the ‘Canal Corporation’) became a subsidiary of the Authority effective January 1, 2017. The 2018 Power Authority Budgets include the budget information of

December 12, 2017

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the Authority and the Canal Corporation. Assumptions that were used by staff to prepare the 2018 Power Authority Budgets, and for forward periods, have been incorporated in the 2018-2021 Four-Year Budget and Financial Plan.

The 2018 Power Authority Budgets are intended to provide the Authority’s operating facilities with, and support organizations by providing, the resources needed to meet the Authority’s overall mission and the Authority’s strategic objectives, and to fund the expenses of the Canal Corporation. Any transfers of funds from the Authority to the Canal Corporation would be subject to compliance with the Authority’s General Resolution Authorizing Revenue Obligations, as amended and supplemented (the ‘Revenue Bond Resolution’). Canal Development Fund expenses are expected to be reimbursed to the Authority by the State Comptroller with moneys held in the New York State Canal System Development Fund.

In approving the 2018 Power Authority Budgets, the Trustees will be authorizing spending for 2018 operations, spending for capital projects, and spending for general plant purchases of $750,000 or less. The 2018 Power Authority Budgets includes requests for 20 new positions that are pooled and funded in a cost center under the Executive Office.

In accordance with the Authority’s Expenditure Authorization Procedures, the President and Chief Executive Officer may, during the course of the year, authorize an additional 1.0% in the O&M Budget, up to 15 new positions, capital projects of $3 million or less, or an increase in spending of no more than $1 million to a capital project previously approved by the Trustees. All other spending authorizations must be approved by the Trustees.

The OSC implemented regulations in March 2006 addressing the preparation of annual budgets and four-year financial plans by ‘covered’ public authorities, including the Authority. (See 2 NYCRR Part 203 (‘Part 203’)). These regulations, which are discussed below, establish various procedural and substantive requirements relating to the budgets and financial plans of public authorities. The 2018-2021 Four-Year Budget and Financial Plan has been prepared in accordance with these regulations.

DISCUSSION & FISCAL INFORMATION

Discussion and Fiscal Information are discussed in detail in the corresponding Budget report being presented at to the Authority Trustees and Canal Corporation Board of Directors at their December 12, 2017 meeting.

REQUESTED ACTION

It is requested that the Finance Committee recommend that the Trustees approve the 2018 Power Authority Budgets, specifically including the expenditures for the (i) 2018 Operations and Maintenance Budget, (ii) 2018 Capital Budget, (iii) 2018 Energy Services Budget and (iv) 2018 Canal Development Fund Budget, each as discussed herein.

In connection with the 2018 Capital Budget, it is requested that the Finance Committee

recommend that the Trustees authorize the transfer of up to $298.8 million from the Operating Fund to the Capital Fund, subject to compliance with the Revenue Bond Resolution.

It is requested that the Finance Committee recommend that the Trustees (1) approve the 2018-

2021 Four-Year Budget and Financial Plan, and (2) authorize (i) submitting the Approved 2018-2021 Four-Year Budget and Financial Plan to the OSC in the prescribed format, (ii) posting the Approved 2018-2021 Four-Year Budget and Financial Plan on the Authority’s Web site, and (iii) making the Approved 2018-2021 Four-Year Budget and Financial Plan available for public inspection at not less than five convenient public locations throughout New York State.

December 12, 2017

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For the reasons stated, I recommend the approval of the above-requested actions by adoption of the resolution below.”

The following resolution was unanimously approved by the Committee members.

RESOLVED, That the Finance Committee recommends that the Authority’s Trustees approve the 2018 Budget for the Power Authority, specifically including the expenditures for the (i) 2018 Operations and Maintenance Budget, (ii) 2018 Capital Budget, (iii) 2018 Energy Services Budget and (iv) 2018 Canal Development Fund Budget, each as discussed in the foregoing report of the President and Chief Executive Officer, are hereby approved; and be it further

RESOLVED, That the Finance Committee recommends that the Authority’s Trustees authorize up to $298.8 million of monies in the Operating Fund to be withdrawn from such Fund and deposited in the Capital Fund, provided that at the time of withdrawal of such amount or portions of such amount, the monies withdrawn are not then needed for any of the purposes specified in Sections 503(1)(a)-(c) of the General Resolution Authorizing Revenue Obligations as amended and supplemented, with the satisfaction of such condition being evidenced by a certificate of the Treasurer or the Deputy Treasurer; and be it further

RESOLVED, That the Finance Committee recommends that the Authority’s Trustees, pursuant to 2 NYCRR Part 203, approve the attached 2018-2021 Four-Year Budget and Financial Plan, including its certification by the Chief Operating Officer, in accordance with the foregoing report of the President and Chief Executive Officer; and be it further

RESOLVED, That the Finance Committee recommends that

the Authority’s Trustees, pursuant to 2 NYCRR Part 203, authorize the Corporate Secretary to submit the Approved 2018-2021 Four-Year Budget and Financial Plan to the Office of the State Comptroller in the prescribed format, post the Approved 2018-2021 Four-Year Budget and Financial Plan on the Authority’s website and make the Approved 2018-2021 Four-Year Budget and Financial Plan available for public inspection at not less than five convenient public places throughout New York State.

December 12, 2017

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b. Release of Funds for Canal Corporation

The President and Chief Executive Officer submitted the following report:

SUMMARY

The Trustees will be requested at their December 12, 2017 meeting to authorize the release of up to $20.5 million in funding to the New York State Canal Corporation (‘Canal Corporation’) to support the operations of the Canal Corporation in calendar year 2018. The amount requested is 25% of the Canal Corporation’s 2018 O&M Budget as presented to the Canal Corporation Board of Directors at this December 2017 meeting.

The Finance Committee is requested to recommend to the Trustees the authorization to release up to $20.5 million in funding to the Canal Corporation to support the operations of the Canal Corporation in calendar year 2018.

BACKGROUND

The Authority has been authorized to provide financial support for the Canal Corporation. See, e.g., Public Authorities Law § 1005-b(2). However, certain expenditures associated therewith do not constitute Capital Costs or Operating Expenses (‘Operating Expenses’) as defined in the Authority’s General Resolution Authorizing Revenue Obligations dated February 24, 1998, as amended and supplemented (‘Bond Resolution’). Expenditures for the Canal Corporation’s operating purposes that do not constitute Capital Costs or Operating Expenses must satisfy the requirements of the Authority’s Bond Resolution relating to the release of funds from the trust estate created by the Bond Resolution for lawful corporate purposes. In addition, as set forth in the Trustees’ Policy Statement dated May 24, 2011, a debt service coverage ratio of 2.0 is to be used as a reference point in considering any such release of funds.

The Bond Resolution permits the Authority to withdraw monies ‘free and clear of the lien and pledge created by the [Bond] Resolution’ provided that (a) such withdrawals must be for a ‘lawful corporate purpose as determined by the Authority,’ and (b) the Authority must determine, taking into account among other considerations anticipated future receipt of revenues or other moneys constituting part of the Trust Estate, that the funds to be so withdrawn are not needed for (i) payment of reasonable and necessary operating expenses, (ii) an Operating Fund reserve for working capital, emergency repairs or replacements, major renewals or for retirement from service, decommissioning or disposal of facilities, (iii) payment of, or accumulation of a reserve for payment of, interest and principal on senior debt or (iv) payment of interest and principal on subordinate debt.

Under the Bond Resolution, Capital Costs (which includes capital costs related to the Canal Corporation) may be paid without satisfying the provision described above.

DISCUSSION & FISCAL INFORMATION

The Canal Corporation became a subsidiary of the Authority effective January 1, 2017. With this authorization, the Trustees will approve the release of $20.5 million, an amount equal to 25% of the Canal Corporation’s 2018 O&M Budget as presented to the Canal Corporation Board of Directors at their December 2017 meeting. With regard to Canal Corporation’s operating expenses in excess of $20.5 million in calendar year 2018, staff is not requesting any action at this time, but will return to the Authority’s Trustees to request additional releases as needed.

Staff has reviewed the effect of releasing up to an additional $20.5 million in funding at this time on the Authority’s expected financial position and reserve requirements. In accordance with the Board’s Policy Statement adopted May 24, 2011, staff calculated the impact of this funding on the Authority’s debt

December 12, 2017

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service coverage ratio and determined it would not fall below the 2.0 reference point level. Given the current financial condition of the Authority, its estimated future revenues, operating expenses, debt service and reserve requirements, staff is of the view that it will be feasible for the Authority to release up to $20.5 million at this time.

Staff has determined that sufficient funds are available in the Operating Fund to release up to $20.5 million in funding to support the operation of the Canal Corporation in calendar year 2018. Staff has further determined that such Authority funds are not needed for any of the purposes specified in Section 503(1)(a)-(c) of the Authority’s Bond Resolution.

The expenses associated with the operations of the Canal Corporation for calendar year 2018 are included in the 2018 Canal Corporation Budget and the 2018 Power Authority Budget that are being presented to the Canal Corporation Board of Directors and the Authority’s Board of Trustees, respectively, at their December 2017 meeting.

REQUESTED ACTION

It is requested that the Finance Committee recommend that the Trustees authorize the release of up to $20.5 million in funding to the Canal Corporation to support the operations of the Canal Corporation in calendar year 2018.

The Finance Committee is requested to recommend that the Trustees affirm that such releases are feasible and advisable, that such funds are not needed for any of the purposes specified in Section 503(1)(a)-(c) of the Authority’s Bond Resolution and that the release of such funds is authorized.

For the reasons stated, I recommend the approval of the above-requested actions by adoption of the resolution below.”

The following resolution was unanimously approved by the Committee members.

RESOLVED, That the Finance Committee recommends that the Authority’s Trustees authorize the release of up to $20.5 million in funding to the Canal Corporation to support operations of the Canal Corporation in calendar year 2018, as discussed in the foregoing report of the President and Chief Executive Officer; and be it further

RESOLVED, That the Finance Committee recommends that the Authority’s Trustees affirm that the amount of up to $20.5 million in funding as described in the foregoing report is not needed for any of the purposes specified in Section 503(1)(a)-(c) of the Authority’s General Resolution Authorizing Revenue Obligations, as amended and supplemented, and that the release of such amount is feasible and advisable.

December 12, 2017

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6. Next Meeting

Acting Chair Nicandri said that the next regular meeting of the Finance Committee is to be

determined.

December 12, 2017

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Closing

Upon motion made by member Anne Kress and seconded by member John Koelmel, the meeting was adjourned by Acting Chair Nicandri at approximately 11:14 a.m.

Karen Delince

Karen Delince Corporate Secretary

December 12, 2017

NYPA FINANCE COMMITTEE

EXHIBITS For

December 12, 2017

Meeting Minutes

1

EXHIBIT 4b-A December 12, 2017

FINANCE COMMITTEE CHARTER

A. PURPOSE

The purpose of the Finance Committee (“Committee”) is to provide guidance to the Board of Trustees and management concerning financial matters of the Authority; review proposals for the issuance of debt by the Authority; and perform such other responsibilities as the Trustees shall assign to it.

B. MEMBERSHIP AND ORGANIZATION

(1) Committee Composition

The Committee shall be comprised of not less than three independent members of the Board of Trustees. All members shall possess the necessary skills to understand the duties and functions of the Committee. Committee members and the Committee Chair shall be selected by a vote of the Board of Trustees.

(2) Term

Committee members shall serve for a period of five years subject to their term of office under the Public Authorities Law § 1003. Committee members may be reelected to serve for additional periods of five years subject to their term of office. A Committee member may resign his or her position on the Committee while continuing to serve as a Trustee. In the event of a vacancy on the Committee due to death, resignation or otherwise, a successor will be selected to serve in the manner and for the term described above.

(3) Removal

A Committee member may be removed if he or she is removed as a Trustee for cause, subject to Public Authorities Law § 2827, or is no longer eligible to serve as a Committee member.

(4) Meetings and Quorum The Committee shall hold a regular meeting at least once annually and may meet more often as needed to fulfill its responsibilities. A Committee member may call a special meeting of the Committee individually, or upon the request of the Authority’s President and Chief Executive Officer, Executive Vice President and Chief Operating Officer, Executive Vice President and General Counsel, Executive Vice-President and Chief Financial Officer, Senior Vice President – Corporate Planning and Finance, or Treasurer.

2

An agenda shall be prepared and distributed to each Committee member prior to each such meeting and minutes shall be prepared in accordance with the New York Open Meetings Law. A majority of the total Committee composition established pursuant to section B(1) of this Charter shall constitute a quorum for the purposes of conducting the business of the Committee and receiving reports.

Any meeting of the Committee may be conducted by video conferencing.

To the extent permitted by law, the Committee may hold meetings or portions of

meetings in executive session.

C. FUNCTIONS AND POWERS The Committee shall provide guidance to the Board of Trustees and management

concerning the Authority’s practices relating to capital structure, debt issuances, interest rate risk management, and such other financial matters as the Board of Trustees shall assign to it.

The Committee shall review proposals for the issuance of Authority debt and the use of

any related financial derivative instruments and make appropriate recommendations to the Board of Trustees.

The Committee may call upon the resources of the Authority to assist the Committee in

the discharge of its responsibilities.

1

EXHIBIT 4b-A-1 October 26, 2010

December 12, 2017

FINANCE COMMITTEE CHARTER

A. PURPOSE

The purpose of the Finance Committee (“Committee”) is to provide guidance to the Board of Trustees and management concerning financial matters of the Authority; review proposals for the issuance of debt by the Authority; and perform such other responsibilities as the Trustees shall assign to it.

B. MEMBERSHIP AND ORGANIZATION

(1) Committee Composition

The Committee shall be comprised of not less than three nor more than five independent members of the Board of Trustees. At least three members of the Committee shall be independent members of the Trustees. All members shall possess the necessary skills to understand the duties and functions of the Committee. Committee members and the Committee Chair shall be selected by a vote of the Board of Trustees.

(2) Term

Committee members shall serve for a period of five years subject to their term of office under the Public Authorities Law § 1003. Committee members may be reelected to serve for additional periods of five years subject to their term of office. A Committee member may resign his or her position on the Committee while continuing to serve as a Trustee. In the event of a vacancy on the Committee due to death, resignation or otherwise, a successor will be selected to serve in the manner and for the term described above.

(3) Removal

A Committee member may be removed if he or she is removed as a Trustee for cause, subject to Public Authorities Law § 2827, or is no longer eligible to serve as a Committee member.

(4) Meetings and Quorum The Committee shall hold a regular meeting at least once annually and may meet more often as needed to fulfill its responsibilities. A Committee member may call a special meeting of the Committee individually, or upon the request of the Authority’s President and Chief Executive Officer, Executive Vice President and Chief Operating Officer, Executive Vice President and

2

General Counsel, Executive Vice-President and Chief Financial Officer, Senior Vice President – Corporate Planning and Finance, or Treasurer. An agenda shall be prepared and distributed to each Committee member prior to each such meeting and minutes shall be prepared in accordance with the New York Open Meetings Law. A majority of the total Committee composition established pursuant to section B(1) of this Charter shall constitute a quorum for the purposes of conducting the business of the Committee and receiving reports.

Any meeting of the Committee may be conducted by video conferencing.

To the extent permitted by law, the Committee may hold meetings or portions of

meetings in executive session.

C. FUNCTIONS AND POWERS The Committee shall provide guidance to the Board of Trustees and management

concerning the Authority’s practices relating to capital structure, debt issuances, interest rate risk management, and such other financial matters as the Board of Trustees shall assign to it.

The Committee shall review proposals for the issuance of Authority debt and the use of

any related financial derivative instruments and make appropriate recommendations to the Board of Trustees.

The Committee may call upon the resources of the Authority to assist the Committee in

the discharge of its responsibilities.

2017 2018 2017 2018Budget Budget $'s % Budget Budget $'s %

Executive OfficesExecutive Office $1,557.9 $1,586.0 $28.1 1.81% Economic Development & Energy EfficiencyLaw $9,898.9 $10,374.0 $475.0 4.80% Economic Development $228.0 $327.5 $99.5 43.62%Internal Audit $4,504.8 $4,642.8 $138.1 3.06% Market Services & Business Controls $15.0 $15.0 $0.0 0.00%Public & Regulatory Affairs $11,960.4 $11,927.7 -$32.7 -0.27% Business & Market Development $236.6 $0.0 -$236.6 -100.00%Risk Management $5,043.5 $5,442.4 $399.0 7.91% Energy Efficiency $500.0 $300.0 -$200.0 -40.00%Office Total $32,965.4 $33,972.9 $1,007.5 3.06% Office Total $979.6 $642.5 -$337.1 -34.41%

Commercial Operations OperationsProject & Business Development $2,806.8 $3,459.9 $653.1 23.27% Operations Headquarters $33,371.1 $42,648.2 $9,277.1 27.80%EVP Commercial Operations $1,249.9 $943.0 -$306.9 -24.55% Blenheim-Gilboa $22,440.2 $22,473.3 $33.1 0.15%Market Issues $1,744.9 $1,790.7 $45.8 2.62% 500MW $34,468.8 $39,959.7 $5,490.9 15.93%Office Total $5,801.6 $6,193.6 $392.0 6.76% Flynn $7,987.7 $8,608.4 $620.7 7.77%

SENY $6,856.9 $4,734.6 -$2,122.2 -30.95%Business Services SCPP $18,905.5 $19,454.6 $549.1 2.90%EVP & CFO Business Services $622.0 $646.7 $24.7 3.98% Niagara $62,834.7 $57,015.4 -$5,819.3 -9.26%Budgets & Business Controls $2,562.4 $2,667.4 $105.0 4.10% St. Lawrence $37,387.2 $36,108.1 -$1,279.1 -3.42%Corporate Controller $5,910.2 $5,346.2 -$564.0 -9.54% Small Hydros $11,412.8 $7,013.4 -$4,399.4 -38.55%Finance $694.9 $0.0 -$694.9 -100.00% Transmission Lines $68,301.9 $65,294.8 -$3,007.1 -4.40%Financial Planning $985.5 $1,243.7 $258.3 26.21% Astoria Energy II O&M $967.3 $1,062.1 $94.8 9.80%Treasury $1,388.4 $1,923.7 $535.3 38.55% Office Total $304,934.0 $304,372.7 -$561.4 -0.18%Strategic Management $1,815.0 $2,146.8 $331.9 18.28%Enterprise Excellence $2,676.1 $2,505.0 -$171.1 -6.39% Recharge New York $2,553.8 $2,253.0 -$300.8 -11.78%Strategic Supply Management $9,913.7 $6,812.5 -$3,101.3 -31.28% Research & Development $8,924.0 $8,704.4 -$219.6 -2.46%Office Total $26,568.2 $23,292.1 -$3,276.1 -12.33%

Eliminations & Adjustments $34,251.4 $38,603.2 $4,351.8 12.71%Information Technology $28,370.1 $30,685.2 $2,315.1 8.16%

Astoria Energy II Lease $28,206.0 $28,764.0 $558.0 1.98%HR & Enterprise Shared ServicesSVP Enterprise Shared Services $1,201.4 $1,186.7 -$14.7 -1.22% Total NYPA $503,415.6 $503,266.2 -$149.4 -0.03%VP Enterprise Shared Services $373.3 $475.7 $102.3 27.41%Human Resources $13,728.0 $10,564.3 -$3,163.7 -23.05% Canals $84,300.0 $82,000.0 -$2,300.0 -2.73%Knowledge Management $1,619.0 $1,096.8 -$522.2 -32.26%Corporate Support Services $10,206.7 $9,877.4 -$329.3 -3.23% Grand Total $587,715.6 $585,266.2 -$2,449.4 -0.42%Fleet Management $1,458.5 $1,487.8 $29.3 2.01%Real Estate $607.8 $593.7 -$14.1 -2.33%Chief Diversity Officer $666.5 $500.1 -$166.4 -24.97%Office Total $29,861.3 $25,782.5 -$4,078.8 -13.66%

O&M 2018 - Budget by Organization ($000's)

INCREASE/(DECREASE) INCREASE/(DECREASE)

Exhibit A: 1 of 4

O_M Budget Comparison


20172018INCREASE/(DECREASE)20172018INCREASE/(DECREASE)

BudgetBudget$'s%BudgetBudget$'s%

Executive Offices

Executive Office$1,557.9$1,586.0$28.11.81%Economic Development & Energy Efficiency

Law$9,898.9$10,374.0$475.04.80%Economic Development$228.0$327.5$99.543.62%

Internal Audit$4,504.8$4,642.8$138.13.06%Market Services & Business Controls$15.0$15.0$0.00.00%

Public & Regulatory Affairs$11,960.4$11,927.7-$32.7-0.27%Business & Market Development$236.6$0.0-$236.6-100.00%

Risk Management$5,043.5$5,442.4$399.07.91%Energy Efficiency$500.0$300.0-$200.0-40.00%

Office Total$32,965.4$33,972.9$1,007.53.06%Office Total$979.6$642.5-$337.1-34.41%

Commercial OperationsOperations

Project & Business Development$2,806.8$3,459.9$653.123.27%Operations Headquarters$33,371.1$42,648.2$9,277.127.80%

EVP Commercial Operations$1,249.9$943.0-$306.9-24.55%Blenheim-Gilboa$22,440.2$22,473.3$33.10.15%

Market Issues$1,744.9$1,790.7$45.82.62%500MW$34,468.8$39,959.7$5,490.915.93%

Office Total$5,801.6$6,193.6$392.06.76%Flynn$7,987.7$8,608.4$620.77.77%

SENY$6,856.9$4,734.6-$2,122.2-30.95%

Business ServicesSCPP$18,905.5$19,454.6$549.12.90%

EVP & CFO Business Services$622.0$646.7$24.73.98%Niagara$62,834.7$57,015.4-$5,819.3-9.26%

Budgets & Business Controls$2,562.4$2,667.4$105.04.10%St. Lawrence$37,387.2$36,108.1-$1,279.1-3.42%

Corporate Controller$5,910.2$5,346.2-$564.0-9.54%Small Hydros$11,412.8$7,013.4-$4,399.4-38.55%

Finance$694.9$0.0-$694.9-100.00%Transmission Lines$68,301.9$65,294.8-$3,007.1-4.40%

Financial Planning$985.5$1,243.7$258.326.21%Astoria Energy II O&M$967.3$1,062.1$94.89.80%

Treasury$1,388.4$1,923.7$535.338.55%Office Total$304,934.0$304,372.7-$561.4-0.18%

Strategic Management$1,815.0$2,146.8$331.918.28%

Enterprise Excellence$2,676.1$2,505.0-$171.1-6.39%Recharge New York$2,553.8$2,253.0-$300.8-11.78%

Strategic Supply Management$9,913.7$6,812.5-$3,101.3-31.28%Research & Development$8,924.0$8,704.4-$219.6-2.46%

Office Total$26,568.2$23,292.1-$3,276.1-12.33%

Eliminations & Adjustments$34,251.4$38,603.2$4,351.812.71%

Information Technology$28,370.1$30,685.2$2,315.18.16%

Astoria Energy II Lease$28,206.0$28,764.0$558.01.98%

HR & Enterprise Shared Services

SVP Enterprise Shared Services$1,201.4$1,186.7-$14.7-1.22%Total NYPA$503,415.6$503,266.2-$149.4-0.03%

VP Enterprise Shared Services$373.3$475.7$102.327.41%

Human Resources$13,728.0$10,564.3-$3,163.7-23.05%Canals$84,300.0$82,000.0-$2,300.0-2.73%

Knowledge Management$1,619.0$1,096.8-$522.2-32.26%

Corporate Support Services$10,206.7$9,877.4-$329.3-3.23%Grand Total$587,715.6$585,266.2-$2,449.4-0.42%

Fleet Management$1,458.5$1,487.8$29.32.01%

Real Estate$607.8$593.7-$14.1-2.33%

Chief Diversity Officer$666.5$500.1-$166.4-24.97%

Office Total$29,861.3$25,782.5-$4,078.8-13.66%

$559,509.6$556,502.2

Exhibit A: 1 of 4

O_M Budget by Cost Element

The $3.6 million for cloud implementation is for Risk Management, Human Resources and Procurement IT cloud based software solutions.

canals assessmentsNYPACanals

Payroll & Benefits$ 305.82927.42.9Annual Payroll$ 114.1Payroll & Benefits$ 47.1

Materials$ 24.233.20.0Hourly Payroll$ 54.7Materials$ 3.1

Fees$ 8.91711.61.7Benefits$ 89.9Fees$ 0.1

Office and Station & Other$ 15.363.30.1Materials$ 21.1Office and Station & Other$ 1.5

Maint/Repair/Svce Contracts$ 147.978.20.1Fees$ 8.8Maint/Repair/Svce Contracts$ 13.8

Consulting Services$ 36.6646.20.6Office and Station & Other$ 13.8Consulting Services$ 7.5

Research & Technology$ 8.7552.60.6Maint/Repair/Svce Contracts$ 134.1NYPA Direct & Assesment$ 8.9

NYPA Direct & Assesment$ 8.9238.80.2Consulting Services$ 29.1Misc/Other

Research & Technology$ 8.7

$ 474.5$ 82.0$ 556.47

$ 556.56251.3

Astoria Lease$ 28.8

Check$ 585.3

Payroll & BenefitsMaterialsFeesOffice and Station & OtherMaint/Repair/Svce ContractsConsulting ServicesResearch & TechnologyNYPA Direct & Assesment305.7982360049817924.234472048.945612762379999715.330706827700002147.9374169299999836.6153645290999928.70439999999999978.9

O_M Budget Comparison by CE

2017 - 2018

O&M BUDGET COMPARISON BY COST ELEMENT

($000's)

20172018INCREASE/(DECREASE)2017 Canals2018 Canals

BUDGETBUDGET$'s%AssessAssess

11X Annual Reg PayRegular Pay133,591141,6188,0276.01%2,888.72,602.7

12X Annual OvertimeOvertime2,8723,15928710.00%3.50.0

14X Annual InternsInterns642600(42)(6.54%)6.013.8

15X Annual ProvisionalsProvisionals2903596923.80%4.02.9

16X Annual TempsTemps347370236.63%12.00.5

17X Annual OtherOther735639(97)(13.12%)13.18.7

1XX ANNUAL PAYROLLTotal Annual Payroll138,477146,7458,2682,927.32,628.6144,116.40-29981

21X Hourly Regular PayRegular Pay46,93147,4074751.01%33.010.8

22X Hourly OvertimeOvertime6,5576,8292724.15%0.20.0

23X Hourly SeasonalSeasonal158- 0(158)(100.00%)0.00.0

25X Hourly ProvisionalsProvisionals- 0- 0- 00.00%0.00.0

26X Hourly TempsTemps21139118085.22%0.00.0

27X Hourly OtherOther7268(3)(4.66%)0.00.0

2XX HOURLY PAYROLLTotal Hourly Payroll53,92954,69576633.210.854,684.65

31X MedicalMedical29,37928,008(1,371)(4.67%)475.6387.3

32X DentalDental2,0372,091542.66%33.028.9

33X Group LifeGroup Life640675355.47%10.49.3

34X ST DisabilityST Disability297546158.22%0.51.0

35X LT DisabilityLT Disability442467255.70%7.26.5

36X PensionPension36,10037,0009002.49%584.4511.6

37X FICAFICA14,00014,8008005.71%226.6204.7

38X UnemploymentUnemployment8080- 00.00%1.31.1

39X Prescription PlanPrescription Plan- 047470.00%0.00.6

3BX Vision / HearingVision / Hearing268289217.75%4.34.0

3CX OtherOther736802669.01%11.911.1

3FX Flexible BenefitsFlexible Benefits(1,200)(1,800)(600)50.00%(19.4)(24.9)

3GX Employee SavingsEmployee Savings3,3653,6653008.92%54.550.7

3HX OPEB Other Post Empl BenefitsOPEB Other Post Empl Benefits19,86221,2001,3386.74%321.5293.1

3XX BENEFITSTotal Benefits105,739107,4001,6621,711.61,485.1105,915.19-16037

41X MaterialsMaterials11,08911,8677787.02%35.56.8

42X Computer HardwareComputer Hardware64382918628.94%2.80.0

43X Computer SoftwareComputer Software8751,35848255.11%10.523.1

44X Communication EquipmentCommunication Equipment21336715472.14%0.10.0

47X FurnitureFurniture31851920163.40%0.00.0

48X Audio/VisualAudio/Visual4812577162.11%2.50.0

49X Office EquipmentOffice Equipment6148120.00%0.00.0

4BX Fuel / GasFuel / Gas1,2201,106(114)(9.32%)11.00.0

4DX Demurrage Demurrage9393(0)(0.08%)0.00.0

4EX Expediting Fees Expediting Fees- 0- 0- 00.00%0.00.0

4XX MATERIALSTotal Purchases14,50416,2771,77362.429.916,247.06

STX Warehouse IssuesTotal Stores Issues4,6094,8872796.04%0.90.04,887

50X Fees Fees8,3668,6302653.16%71.1126.2

51X Employee Fees Employee Fees329347195.63%7.15.9

5XX FEESTotal Fees8,6958,97828378.2132.18,845.61

61X Travel / LivingTravel / Living2,8913,0992087.19%56.048.2

62X Relocation/Employment Agency FeesRelocation/Employment Agency Fees500416.7-83.3(16.66%)30.088.7

63X Books / PublicationsBooks / Publications452328(124)(27.44%)4.20.3

64X UtilitiesUtilities8,1538,220660.82%370.90.0

66X Land Owner/Real Property/Petty CashLand Owner/Real Property/Petty Cash9027(63)(70.00%)0.00.0

67X Office SuppliesOffice Supplies590526(64)(10.85%)13.73.5

68X Postage, Shipping & HandlingPostage, Shipping & Handling2302633414.60%2.90.1

6AX Seminars / ConferencesSeminars / Conferences2,2522,318672.96%124.119.4

6BX Media AdsMedia Ads292248(44)(15.12%)3.69.6

6DX Misc. Office ExpensesMisc. Office Expenses672561(110)(16.43%)16.49.7

6EX Printing & PhotoPrinting & Photo711013042.89%0.04.8

6FX Contrib/Sponsorships/EventsContributions & Sponsorships60689528947.63%8.517.3

6GX Travel & Living OtherTravel & Living Other611580.00%0.00.0

6HX Per DiemPer Diem664601(63)(9.47%)0.00.0

6IX Industry ConferencesIndustry Conferences360322(39)(10.70%)9.35.7

6JX Business Meals & Meal AllowanceBusiness Meals & Meal Allowance70582912417.66%8.516.3

6XX OFFICE AND STATIONTotal Office & Station18,53318,766233648.0223.718,542.45

71X Labor OnlyLabor Only28,03819,195(8,843)(31.54%)130.834.9

72X Labor MaterialLabor Material57,61261,2543,6426.32%54.14.7

73X DP RentalDP Rental14,36023,3639,00462.70%32.88.6

74X Outside ServicesOutside Services26,38925,551(838)(3.17%)333.2142.9

75X Rental / LeasesRental / Leases1,5511,76721613.90%1.70.0

76X Warranty ExpensesWarranty Expenses300- 0(300)(100.00%)0.00.0

7AX Workers CompensationWorkers Compensation2,9123,1992869.83%0.00.0

7XX MAINT/REPAIR/SVCE CONTRACTSTotal Maint/Repair/Service Contract131,162134,3293,166552.6191.1134,137.42

81X Finance / AccountingFinance / Accounting1,7341,595(139)(7.99%)19.252.5

82X Legal/Aprl/NELegal/Aprl/NE2,6252,513(112)(4.26%)13.00.0

83X EngineeringEngineering10,1398,957(1,182)(11.66%)0.00.0

89X Other ConsultantsOther Consultants25,93016,368(9,562)(36.88%)205.6265.8

8XX CONSULTING SERVICESTotal Professional Services40,42829,434(10,994)237.8318.429,115.36

XXX Research & TechnologyResearch & Technology8,9248,704(220)(2.46%)0.00.08,704

92X Outside AgenciesOutside Agencies22,83921,685(1,154)(5.05%)(1.8)0.021,685

O&M Distribution to Capital(43,348)(46,884)(3,536)8.16%(866)

Total Direct Allocations(20,509)(25,199)(4,689)(2)- 0

IOH Energy Services Indirect O/HIndirect Overhead to Energy Services5,1753,269(1,906)(36.83%)0.00.03,269

Direct Assessment to CanalsDirect Assessment to Canals(6,250)(5,020)1,231(19.69%)

Total Direct Assessments to CanalsTotal Direct Assessments to Canals(6,250)(5,020)1,231(19.69%)

GRAND TOTAL O&M:GRAND TOTAL O&M:503,416503,266(150)(0.03%)6,2505,020-28764

Payroll to Canals(1,876)(1,411)

FB1 Fringe Benefits DistributedFringe Benefits Distributed to Canals(1,099)(802.0)

FBC Fringe Benefits to CapitalFringe Benefits to Capital(13,842)(14,940)

PR Payroll to CapitalPayroll to Capital(24,892)(28,049)

FBD Fringe Benefits Non O&MFringe Benefits Non O&M(268)(296)

PRD Payroll to Non O&MPayroll to Non O&M(457)(520)

SAC Site Administrative Costs to CapitalSite Administrative Costs to Capital(261)(251)

STD Standard Rate AdjustmentStandard Rate Adjustment(626)(593)

STDEXC Standard Rate Adjustment for Non O&MStandard Rate Adjustment for Non O&M(28)(21)

9XX OTHER EXPENSES9XX OTHER EXPENSES(43,348)(46,884)

O_M Budget by Facility


Corporate HQ / R&D$129.3

Operations HQ$42.6

Strategic Investments$38.6

Blenheim-Gilboa$22.5

Flynn$8.6

SCPP$19.5

Recharge NY$2.3

Small Hydros$7.0

500MW$40.0

SENY$4.7

Astoria Energy II$1.1

Niagara$57.0

St. Lawrence$36.1

Canals Corporate HQ $33.8this includes direct charges and assedss from nypa plus 1.2k adjustment

Canals East$27.2

Canals West$21.0

Transmission$65.3

$556.5

Corporate HQ / R&DOperations HQStrategic InvestmentsBlenheim-GilboaFlynnSCPPRecharge NYSmall Hydros500MWSENYAstoria Energy IINiagaraSt. LawrenceCanals Corporate HQ Canals EastCanals WestTransmission

Corporate HQ / R&DOperations HQStrategic InvestmentsBlenheim-GilboaFlynnSCPPRecharge NYSmall Hydros500MWSENYAstoria Energy IINiagaraSt. LawrenceCanals Corporate HQ Canals EastCanals WestTransmission129.2732369800000142.64822255000000738.60324760999999722.473346058.608385179999999119.4546175400000012.25303600999999987.013424909999999539.9597052000000024.73460836000000021.062091399999999757.0154039536.10810404000000133.79999999999999727.22165.294757000000004

Exhibit A: 3 of 4

O_M Headcount

Exhibit A: 4 of 4

O & M: Headcount 2018

Headquarters2018 Request

*Executive Offices167

Commercial Operations52

Business Services201

Human Resources & Enterprise Shared Services120

Information Technology120

Economic Development & Energy Efficiency176

Headquarters Total836

Operations

Operations HQ346

Transmission/Clark135

Blenheim-Gilboa104

500MW63

Small Clean Power Plants1

R.M. Flynn22

Niagara243

St. Lawrence195

Operations Total1,109

NYPA Total1,945

Canals Total482

Grand Total2,427

* Includes 20 funded new position requests


Payroll & Benefits$305.8

Materials$24.2 Fees

$8.9

Office and Station & Other$15.3

Maint/Repair/Svce Contracts$147.9

Consulting Services$36.6

Research & Technology$8.7

NYPA Direct & Assesment$8.9

$556.5 M(excludes AE II Lease)

Exhibit A: 2 of 4O&M: 2018 Budget By Cost Element ($millions)





Executive Offices










Market Issues$1,744.9$1,790.7$45.82.62%500MW$34,468.8$39,959.7$5,490.915.93%


SENY$6,856.9$4,734.6-$2,122.2-30.95%











Office Total$26,568.2$23,292.1-$3,276.1-12.33%











Real Estate$607.8$593.7-$14.1-2.33%


Office Total$29,861.3$25,782.5-$4,078.8-13.66%

$559,509.6$556,502.2

Exhibit A: 1 of 4













$ 474.5$ 82.0$ 556.47

$ 556.56251.3

Astoria Lease$ 28.8

Check$ 585.3



2017 - 2018


($000's)


















32X DentalDental2,0372,091542.66%33.028.9





37X FICAFICA14,00014,8008005.71%226.6204.7




3CX OtherOther736802669.01%11.911.1

















50X Fees Fees8,3668,6302653.16%71.1126.2






















































Operations HQ$42.6



Flynn$8.6

SCPP$19.5

Recharge NY$2.3

Small Hydros$7.0

500MW$40.0

SENY$4.7


Niagara$57.0

St. Lawrence$36.1


Canals East$27.2

Canals West$21.0

Transmission$65.3

$556.5



Exhibit A: 3 of 4

O_M Headcount

Exhibit A: 4 of 4










Operations

Operations HQ346


Blenheim-Gilboa104

500MW63


R.M. Flynn22

Niagara243

St. Lawrence195


NYPA Total1,945

Canals Total482

Grand Total2,427




Operations HQ$42.6



Flynn$8.6

SCPP$19.5

Recharge NY$2.3

Small Hydros$7.0

500MW$40.0

SENY$4.7


Niagara$57.0

St. Lawrence$36.1

Canals Corporate HQ $33.8

Canals East$27.2

Canals West$21.0 Transmission

$65.3$556.5 M(excludes AEII Lease)

* Astoria does not reflect annual Lease payments

O&M: 2018 Budget By Facility ($millions)Exhibit A: 3 of 4





Executive Offices










Market Issues$1,744.9$1,790.7$45.82.62%500MW$34,468.8$39,959.7$5,490.915.93%


SENY$6,856.9$4,734.6-$2,122.2-30.95%











Office Total$26,568.2$23,292.1-$3,276.1-12.33%











Real Estate$607.8$593.7-$14.1-2.33%


Office Total$29,861.3$25,782.5-$4,078.8-13.66%

$559,509.6$556,502.2

Exhibit A: 1 of 4













$ 474.5$ 82.0$ 556.47

$ 556.56251.3

Astoria Lease$ 28.8

Check$ 585.3



2017 - 2018


($000's)


















32X DentalDental2,0372,091542.66%33.028.9





37X FICAFICA14,00014,8008005.71%226.6204.7




3CX OtherOther736802669.01%11.911.1

















50X Fees Fees8,3668,6302653.16%71.1126.2






















































Operations HQ$42.6



Flynn$8.6

SCPP$19.5

Recharge NY$2.3

Small Hydros$7.0

500MW$40.0

SENY$4.7


Niagara$57.0

St. Lawrence$36.1


Canals East$27.2

Canals West$21.0

Transmission$65.3

$556.5



Exhibit A: 3 of 4

O_M Headcount

Exhibit A: 4 of 4










Operations

Operations HQ346


Blenheim-Gilboa104

500MW63


R.M. Flynn22

Niagara243

St. Lawrence195


NYPA Total1,945

Canals Total482

Grand Total2,427


Headquarters 2018 Request

* Executive Offices 167Commercial Operations 52Business Services 201Human Resources & Enterprise Shared Services 120Information Technology 120Economic Development & Energy Efficiency 176

Headquarters Total 836Operations

Operations HQ 346Transmission/Clark 135Blenheim-Gilboa 104500MW 63Small Clean Power Plants 1R.M. Flynn 22Niagara 243St. Lawrence 195

Operations Total 1,109

NYPA Total 1,945

Canals Total 482

Grand Total 2,427


Exhibit A: 4 of 4






Executive Offices










Market Issues$1,744.9$1,790.7$45.82.62%500MW$34,468.8$39,959.7$5,490.915.93%


SENY$6,856.9$4,734.6-$2,122.2-30.95%











Office Total$26,568.2$23,292.1-$3,276.1-12.33%











Real Estate$607.8$593.7-$14.1-2.33%


Office Total$29,861.3$25,782.5-$4,078.8-13.66%

$559,509.6$556,502.2

Exhibit A: 1 of 4













$ 474.5$ 82.0$ 556.47

$ 556.56251.3

Astoria Lease$ 28.8

Check$ 585.3



2017 - 2018


($000's)


















32X DentalDental2,0372,091542.66%33.028.9





37X FICAFICA14,00014,8008005.71%226.6204.7




3CX OtherOther736802669.01%11.911.1

















50X Fees Fees8,3668,6302653.16%71.1126.2






















































Operations HQ$42.6



Flynn$8.6

SCPP$19.5

Recharge NY$2.3

Small Hydros$7.0

500MW$40.0

SENY$4.7


Niagara$57.0

St. Lawrence$36.1


Canals East$27.2

Canals West$21.0

Transmission$65.3

$556.5



Exhibit A: 3 of 4

O_M Headcount

Exhibit A: 4 of 4










Operations

Operations HQ346


Blenheim-Gilboa104

500MW63


R.M. Flynn22

Niagara243

St. Lawrence195


NYPA Total1,945

Canals Total482

Grand Total2,427


2018 Capital Budget Request ($000's) Exhibit B: 1 of 3

2018 CAPITAL BUDGET

TRANSMISSION 97,817

OPERATIONS

NIAGARA 68,616

ST. LAWRENCE 21,345

BLENHEIM- GILBOA 6,829

500 MW 11,055

SCPP 1,447

FLYNN 37

SMALL HYDRO PLANTS 1,507

SUB-TOTAL OPERATIONS 208,653

OPERATIONS HEADQUARTERS 50,169

CANALS 40,000

TOTAL CAPITAL 298,822

2018 Capital Summary

2018 Capital Budget Request ($000's) Exhibit B: 1 of 3

2018 CAPITAL BUDGET

TRANSMISSION97,817

OPERATIONS

NIAGARA68,616`

ST. LAWRENCE21,345

BLENHEIM- GILBOA6,829

500 MW11,055

SCPP1,447

FLYNN37

SMALL HYDRO PLANTS1,507

SUB-TOTAL OPERATIONS208,653

OPERATIONS HEADQUARTERS50,169

CANALS40,000

TOTAL CAPITAL298,822

Niagara-STL-Capital

Capital Plan: 2018 Major InitiativesExhibit B: 2 of 3

Niagara

LEWISTON PUMP GENERATING PLANT (LPGP) LEM50.2

RMNPP LIFE EXTENSION & MODERNIZATION LEM3.5

NIAGARA REPLACE VESSELS JOINCAIR/BREAKER1.6

GANTRY CRANE INSPECTIONS-PARAPET BUSSES1.6

REPLACEMENT UNDERGROUND FUEL STOR. TANKS1.6

BSNY CHILLER REPLACEMENT / UPGRADE1.6

NIAGARA SCADA SYSTEM UPGRADE1.5

NIA RMNPP TRASH RACK REPLACEMENT1.3

RELICENSING COMPLIANCE AND IMPLEMENTATION1.0

All Other Niagara Projects4.6

Total Niagara68.6

St. Lawrence

NEW FACILITIES FORT OFFICE OF PARKS4.5

WATER BALL REPLACEMENT3.8

ROTOR MODIFICATION-STRESS REDISTRIBUTION3.5

STL CONTROL ROOM RE-DESIGN2.6

STL STATION SERVICE UPGRADE1.8

RELICENSING COMPLIANCE AND IMPLEMENTATION1.2

All Other St. Lawrence Projects3.9

Total St.Lawrence21.3

LEWISTON PUMP GENERATING PLANT (LPGP) LEMRMNPP LIFE EXTENSION & MODERNIZATION LEMNIAGARA REPLACE VESSELS JOINCAIR/BREAKERGANTRY CRANE INSPECTIONS-PARAPET BUSSESREPLACEMENT UNDERGROUND FUEL STOR. TANKSBSNY CHILLER REPLACEMENT / UPGRADENIAGARA SCADA SYSTEM UPGRADENIA RMNPP TRASH RACK REPLACEMENTRELICENSING COMPLIANCE AND IMPLEMENTATIONAll Other Niagara Projects50.1983335000000043.54167971.645465571.62240692999999991.621124731.57488473999999991.48356241999999991.26326407000000021.01990982000000014.6293685199999928

NEW FACILITIES FORT OFFICE OF PARKSWATER BALL REPLACEMENTROTOR MODIFICATION-STRESS REDISTRIBUTIONSTL CONTROL ROOM RE-DESIGNSTL STATION SERVICE UPGRADERELICENSING COMPLIANCE AND IMPLEMENTATIONAll Other St. Lawrence Projects4.49779956999999973.78922835000000013.52834094000000012.60850368000000011.84432069999999991.15697127000000013.8748354900000024

Niagara 2018($ millions)Total $68.6 million

Trans-Canals-Capital

Capital Plan: 2017 Major InitiativesExhibit

Documents

MINUTES OF THE REGULAR MEETING OF THE FINANCE … · Motion to Resume Meeting in Open Session 5 4. CONSENT AGENDA: 6 a. Approval of the Minutes of the Regular Meeting 7 held on January